Shelby tells Chamber US 'on financial suicide watch right now'

In this March 8, 2010 file photo, Sen. Richard Shelby, R-Ala., speaks at a town hall meeting at the Space and Rocket Center in Huntsville. Shelby said at a West Alabama Chamber of Commerce gathering today that he is optimistic about the nation's future but remains worried about the economic direction America is pursuing.

The Associated Press

By Jason MortonStaff Writer

Published: Monday, February 11, 2013 at 12:16 p.m.

Last Modified: Monday, February 11, 2013 at 12:16 p.m.

TUSCALOOSA | U.S. Sen. Richard Shelby said he is optimistic about the nation's future but remains worried about the economic direction America is pursuing.

Shelby, R-Tuscaloosa, expressed these concerns this morning at the first Chamber in Session of 2013, hosted by the Chamber of Commerce of West Alabama.

The senator was the keynote speaker for the event and used the time to praise local leaders as well as the University of Alabama football team before turning the discussion to national affairs.

“I do believe this is a great country ...,” Shelby said. “But we do have challenges in this country.”

Shelby, now serving his sixth term in the U.S. Senate, said he believes most Americans share his concerns over the financial health of a nation that produces more goods than any other country but remains one of the largest debtor nations on the planet.

The senior Republican on the Senate Appropriations Committee said the ongoing financial failings of European countries — among them the double- and potential triple-dip recessions of certain countries — are not isolated events and could happen here, as well.

“We're on financial suicide watch right now ...,” Shelby told the crowd of business leaders, elected officials and residents packed into a ballroom at the Hotel Capstone. “We're going to have to get serious about not coming up to what we call the fiscal cliff.”

There are a number of approaches that can be taken, the Republican said. However, he does not favor the Democrats' approach of increasing taxes to offset the shortfalls.

And Shelby said explicitly that he doesn't think that successful Americans should be asked to pay more. In fact, most workers should be taxed less.

“I don't believe anybody should have to pay more than 25 percent of their income in taxes,” Shelby said. “Anybody.”

After the meeting, Shelby said his talks with Alabama residents during a recent tour of the state have shown him that the fate of the economy is on the minds of most people, too.

And these fears, Shelby said, should be felt in the White House and halls of Congress.

“The American people — collectively — are pretty smart,” Shelby said. “They probably worry about the country more than people in Washington do.

“I think, underlying in the subconscious of the people in this country, is the debt culture. I think people are worried about that, and I hope those concerns can penetrate the halls of Washington.”

Shelby didn't spend all his time at the podium discussing national issues. He also praised the efforts and accomplishments of University of Alabama System Chancellor Robert Witt, Tuscaloosa Mayor Walt Maddox and Northport Mayor Bobby Herndon.

He also talked up his alma mater's back-to-back championship seasons on the collegiate gridiron.

Shelby, who earned both his undergraduate and law degree from the University of Alabama, said he was approached for friendly wagers by two colleagues in Washington, both of whom believed the Notre Dame Fighting Irish would get the upper hand on the Crimson Tide in this year's BCS National Championship Game.

It didn't take long for Shelby to realize he'd be enjoying a free dinner and box of candy.

“After about three or four plays, I knew that game was over,” he said.

<p>TUSCALOOSA | U.S. Sen. Richard Shelby said he is optimistic about the nation's future but remains worried about the economic direction America is pursuing.</p><p>Shelby, R-Tuscaloosa, expressed these concerns this morning at the first Chamber in Session of 2013, hosted by the Chamber of Commerce of West Alabama.</p><p>The senator was the keynote speaker for the event and used the time to praise local leaders as well as the University of Alabama football team before turning the discussion to national affairs.</p><p>“I do believe this is a great country ...,” Shelby said. “But we do have challenges in this country.”</p><p>Shelby, now serving his sixth term in the U.S. Senate, said he believes most Americans share his concerns over the financial health of a nation that produces more goods than any other country but remains one of the largest debtor nations on the planet.</p><p>The senior Republican on the Senate Appropriations Committee said the ongoing financial failings of European countries — among them the double- and potential triple-dip recessions of certain countries — are not isolated events and could happen here, as well.</p><p>“We're on financial suicide watch right now ...,” Shelby told the crowd of business leaders, elected officials and residents packed into a ballroom at the Hotel Capstone. “We're going to have to get serious about not coming up to what we call the fiscal cliff.”</p><p>There are a number of approaches that can be taken, the Republican said. However, he does not favor the Democrats' approach of increasing taxes to offset the shortfalls.</p><p>And Shelby said explicitly that he doesn't think that successful Americans should be asked to pay more. In fact, most workers should be taxed less.</p><p>“I don't believe anybody should have to pay more than 25 percent of their income in taxes,” Shelby said. “Anybody.”</p><p>After the meeting, Shelby said his talks with Alabama residents during a recent tour of the state have shown him that the fate of the economy is on the minds of most people, too.</p><p>And these fears, Shelby said, should be felt in the White House and halls of Congress.</p><p>“The American people — collectively — are pretty smart,” Shelby said. “They probably worry about the country more than people in Washington do.</p><p>“I think, underlying in the subconscious of the people in this country, is the debt culture. I think people are worried about that, and I hope those concerns can penetrate the halls of Washington.”</p><p>Shelby didn't spend all his time at the podium discussing national issues. He also praised the efforts and accomplishments of University of Alabama System Chancellor Robert Witt, Tuscaloosa Mayor Walt Maddox and Northport Mayor Bobby Herndon.</p><p>He also talked up his alma mater's back-to-back championship seasons on the collegiate gridiron.</p><p>Shelby, who earned both his undergraduate and law degree from the University of Alabama, said he was approached for friendly wagers by two colleagues in Washington, both of whom believed the Notre Dame Fighting Irish would get the upper hand on the Crimson Tide in this year's BCS National Championship Game.</p><p>It didn't take long for Shelby to realize he'd be enjoying a free dinner and box of candy.</p><p>“After about three or four plays, I knew that game was over,” he said.</p><p><i>Reach Jason Morton at jason.morton@tuscaloosanews.com or 205-722-0200.</i></p>